Snapchat cuts 1,000 jobs as AI push accelerates path to profitability – Ripples Nigeria

Snap Inc., the parent company of Snapchat, has cut about 1,000 jobs as it ramps up the use of artificial intelligence to streamline operations and improve profitability. The layoffs, will affect roughly 16 percent of Snap’s full-time workforce and include the elimination of more than 300 unfilled roles, according to a memo from chief executive Evan Spiegel. “We believe that rapid advancements in artificial intelligence enable our teams to reduce repetitive work, increase velocity and better support our community, partners and advertisers,” Spiegel wrote, adding that smaller teams using AI tools are already driving “meaningful progress.” READ ALSO: Singer Timaya urges pause in relentless pursuit of bigger goals The move places Snap among a growing cohort of tech companies reducing headcount while highlighting productivity gains from AI adoption. Data from Layoffs.fyi shows more than 72,000 employees have been laid off by nearly 90 tech firms so far this year. Snap said the restructuring is expected to cut more than $500 million from its annual cost base by the second half of the year, creating “a clearer path to net-income profitability.” Spiegel described the decision as difficult and apologised to affected employees. The company has undergone multiple rounds of layoffs in
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